Construction starts to slip back in 2020
“The recovery in construction starts that began during 2010 in the aftermath of the Great Recession is coming to an end,” stated Richard Branch, Chief Economist for Dodge Data & Analytics.
Construction starts will decline but the level of activity will remain close to recent highs.
- Residential – The dollar value will drop 3 percent and number of units will be down 5 percent for new single-family housing. The eight-year growth in multifamily housing starts will end, with drops of 13 percent in value and 15 percent in units.
- Commercial – Construction starts will drop 6 percent, particularly for warehouses and hotels. Office and retail construction will also drop. High-value data center construction will be a bright spot.
- Manufacturing plants – A 2 percent decline because of trade tensions that have weighed down the sector.
Rental Pulse: Equipment and event rental revenue forecast to outpace economic growth
- Number passes $60 billion for the first time
- The five-year forecast calls for continued growth for U.S. rental revenue through at least 2023, reaching $64.1 billion that year, and for Canada to reach $6.35 billion.
But: North American rental growth slows further
Manufacturing news:
Wacker Neuson sales up 12.4% in Q3
